Goldman Sachs Invests in Fiber Broadband Provider ImOn
Goldman Sachs Asset Management will make new investments in ImOn’s growth in fiber-to-the-premise (FTTP) data, video and voice services to homes and businesses throughout eastern Iowa and surrounding markets, according to a statement from Goldman Sachs.
ImOn was founded in 2007 as a single-market cable provider and now is a regional FTTP platform operating a 2,000+ mile network that reaches over 60,000 households and businesses, according to the company. The acquisition by Goldman Sachs Asset Management will add new capital, resources and expertise to expand ImOn’s customer base and help the company reach new markets, according to the statement.
Executive Commentary
Patrice Carroll, founder and CEO, ImOn
Patrice Carroll, founder and CEO of ImOn, said,
“The ImOn team is thrilled to be working with Goldman Sachs. The ImOn difference is our high-quality fiber-optic broadband network, our commitment to providing the highest level of customer service, and our support of the communities we serve. Goldman Sachs shares our values and supports ImOn’s vision. They will be a great partner to help us implement our ambitious growth plans.”
Leonard Seevers, a partner leading digital infrastructure investing within Goldman Sachs Asset Management, said,
"Increasing usage and reliance on broadband connectivity by households and businesses create a highly attractive growth opportunity for ImOn to deploy FTTP infrastructure. We are incredibly excited to partner with Patrice and the rest of the ImOn management team, and to be ImOn’s strategic and capital partner as it executes this next phase of growth.”
Goldman Sachs has focused on infrastructure investing, which includes businesses delivering digital infrastructure and connectivity and communications. Previously, Goldman Sachs has invested in CityFibre, the UK’s largest independent full fiber infrastructure platform and Global Compute, a global data center platform, Goldman Sachs said.
Goldman Sachs' IT Investment Expertise
Goldman Sachs also has extensive investment experience in the IT market. In 2019, it made investments in Acronis to bolster cybersecurity and data protection solutions; in 2021 it backed Advania's acquisition of Nordic MSP ContentCloud; along with Everstone, it acquired a “significant” stake in Infostretch, an IT consulting firm that specializes in various digital transformation, cloud and software development services and in 2018 acquired Restaurant Technologies.
Sharon manages day-to-day content on ChannelE2E and serves as senior managing editor for CyberRisk Alliance’s Channel Brands. She also covers enterprise-class technology companies, strategic alliances and channel partner strategies. Sharon is a veteran tech journalist and editor with more than 25 years experience in the industry, and has previously held key editorial, content and leadership positions at Techstrong Group, CIO.com, Ziff Davis Enterprise and CRN.
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